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Farm Income and Land Prices are Both Falling, St. Louis Fed Survey Finds Prices of crop land are beginning to fall as a long slump in farm income continues, the St. Louis Federal Reserve Bank reports. The Fed's quarterly survey of agricultural bankers, conducted in June, found that prices for quality farmland were down 3.5 percent in the past year. Ranch or pasture land, however, got 1.6 percent more expensive, even though rents on such land fell by 9 percent. One banker said prices within a short drive of St. Louis are holding up especially well. Read More More News: Farm Real Estate Value Averaging $3,140/Acre for 2018 Wisconsin Farmland ...
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U.S. Farmland Values Hit a Record Despite Trade Fears While crop groups have sounded the alarm over U.S. trade wars, here’s one measure that shows part of the agricultural economy is still vibrant: U.S. farmland values just rose to a record. Average farmland values nationwide have increased 1.9 percent to $3,140 an acre so far this year from 2017, according to a report released Thursday by the U.S. Department of Agriculture. The gain  signals that investors are focusing on farmland as a longer-term investment, and may consider the trade tensions to be short term. Keep Reading More News: Senate Names Farm Bill Conferees Net cash farm income ...
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Farmers' Working Capital Drops to 10-Year Low The financial condition of the U.S. farm sector continues to deteriorate. The extent of the deterioration is perhaps best seen in the level of working capital which has fallen sharply since 2012. This decline does not bode well for the financial condition of many U.S. farmers. The amount of working capital (current assets minus current liabilities) in the U.S. farm sector provides an indication of the liquidity of the sector. Working capital provides a financial cushion for farmers. Learn More More News: Administration Earmarks Up to $12 Billion for Agriculture to Offset Trade War USDA Funding ...
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Farm Survey Offers Glimpse at Changing Face of Agriculture Farming in Iowa has changed significantly since the first Iowa State University Farmland Ownership Tenure Survey was taken in the 1940s. The most recent survey, released earlier this month, analyzed trend data from 2012-2017 and offered a glimpse of the changing face of agriculture at the state level. Advantage Realty and Land Management broker and manager Sam Harper pointed to the level of farms owned debt free as one of the most telling statistics revealed in the report. "Probably the number that sort of surprised me a little bit was 82 percent of the farm ground is owned now debt free," ...
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“Land Values are Strong, so I am Okay.” The other day, a third-hand conversation brought up an interesting perspective. This young, new lender to agriculture had $20 million of potential loans in his pipeline. He indicated to the farm management consultant that he felt okay because land values were still strong in his area. My perspective is that this thought process is very common,particularly later in the stages of an elongated economic downturn. Profits and cash flow are first to be suppressed in the stages of an economic downturn. The strong, proactive manager will burn through working capital that was built during good economic times. The reactive ...
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What Rising Interest Rates Mean for Farmers The Federal Reserve raised interest rates in June for the second time in 2018. Matt Monteiro, vice president of finance and treasurer for Farm Credit Mid-America, gives these points to keep in mind when thinking about how interest rates may affect farmers. 1. Rates are still historically low. When the financial crisis hit in 2008, the Federal Reserve Open Market Committee, or the Fed, set the federal funds rate to zero or a quarter percent to influence economic activity and to bring the economy back. The Fed kept it there until December 2015. The recession was prolonged and the recovery was slow. Since then, ...
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Senate Passes Farm Bill – No Crop Insurance Amendments Offered Last week the Senate passed its version of the 2018 Farm Bill by a vote of 86 – 11. You can see how your Senator voted here . A special “Thank you” to all of you that called your Senators to urge a “no” vote on the Durbin/ Grassley amendment to apply AGI to the crop insurance program and the Flake/ Shaheen amendment to cap premium assistance. It does make a difference. As it turned out, neither amendment was offered, in no small part because you and others in the commodity, crop insurance, and conservation community made phone calls and contacts to Senate offices urging against the adoption ...
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As U.S. - China Dispute Escalates, Farm Groups See Added Risk with No Escape Commodity prices are falling in the wake of President Trump’s threat of round after round of tariffs on China, and on Tuesday, groups representing wheat and soybean growers warned that the White House is making trouble for U.S. agriculture with its aggressive tactics. Trump believes he will win the fight, so farmers will have to endure the turmoil, said Iowa Senator Charles Grassley, adding, “I’m kind of scared for agriculture.” “Soybean prices are falling as a direct result of this trade feud,” said John Heisdorffer, president of the American Soybean Association, a farm group. ...
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Why ASFMRA?

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How great would it be to sit in a room and find it full of other people who are  all employed in your field of interest? When you are just getting started in your career it can be difficult to find a group of professionals to network with and support your growth. How do you find a group of people who are all passionate about your field of interest? Answer: Join an association, ASFMRA to be exact. If you are interested in a career in ag join ASFMRA today! Student membership is free and provide you with the opportunity to network with  the most trusted rural property professionals . Benefits of Joining: 1) Access to internships and job opportunities. ...
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Senate Agriculture Committee Passes Farm Bill, Possible Floor Action This Week Last week, the Senate Agriculture Committee passed its version of the 2018 farm bill out of Committee by a vote of 20-1. Senator Grassley (R-IA) was the lone dissenter. He would like to see tighter restrictions regarding who qualifies for farm payments (actively engaged definition) and did not offer his amendment during Committee mark-up to restrict payments but promised to offer it during Senate floor consideration. Senate Majority Leader Mitch McConnell (R-KY) attended the mark-up to discuss and defend his language regarding the cultivation of hemp. He is a member of the Senate ...
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Growing Land Values Pose Challenges Buying farm ground isn’t easy these days, as Wilder, Idaho, potato grower Doug Gross was recently reminded. “We tried to buy a farm adjoining us and we were outbid by an institutional investor,” he said. Gross put in a bid he thought represented fair-market price. The institutional investor offered “hundreds of dollars more” per acre, he said. He would not elaborate except to say the investor’s offer was about 7 percent more than his. Read More More News: Senate Committee Releases Farm Bill Ag Groups Take Action in WOTUS Case Coastal Bend Crops Critical as Drought Intensifies White House Tries ...
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Farm Bill Update After failing to pass the farm bill, the House passed a rule to allow consideration of the motion to reconsider the House farm bill (H.R.2) until June 22, 2018. The House could vote on the motion at any time up to that date or it could extend the deadline for a vote. The Agriculture Committee will make no changes to H.R. 2 in the interim and is expecting a vote sometime after the House votes on an immigration bill. Further amendments will not be considered on the House floor to the farm bill, so it will be essentially a straight up-or-down re-vote on H.R. 2. The Senate Agriculture Committee did not announce a date for mark-up before the ...
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House Sets New Vote on Farm Bill WASHINGTON - The House quietly delayed Speaker Paul Ryan’s attempt to revive the farm bill until June 22, with GOP leaders intending to remove conservative opposition to the bill by holding a vote on immigration control in the interim. Representatives agreed to the June 22 target by passing, 227-180, a multipart resolution on Tuesday that set terms of debate for three bills, including a military spending bill. The final sentence in the resolution said action on the farm bill “may continue to be postponed through the legislative day of Friday, June 22.” “Obviously, last Friday was regrettable. Obviously, we did not want ...
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Make the Most of Your Summer Memorial Day weekend is here and with it the start of summer. What are your plans?  While a good GPA and strong course load will look good when you go to apply for your first job, they are not the only thing potential employers will be looking for. Employers want to hire well-rounded candidates that show true interest in their field. Here are a couple ways you can utilize your time this summer to do just that:   1)      Undergraduate Research - Do you have a professor who is working on a large project? Talk to them about interning for them or joining their research team. 2)      Intern/Job Shadow ...
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House Farm Bill Fails to Pass Last Friday morning, the House of Representatives failed to pass H.R. 2, the House Farm Bill by a vote of 198 -213. Thirty Republicans joined 183 Democrats in voting against the bill. No Democrat voted for passage. The bulk of the Republicans voting against were Freedom Caucus members who insisted on a vote on the Rep. Goodlatte (R-VA) immigration bill before voting on the farm bill. They made this request Thursday evening as debate on the farm bill drew to a close.  See How Your Member Voted During House floor consideration the McClintock amendment to phase out commodity and crop insurance programs was defeated by an overwhelming ...
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In House, 'A Lot of Undecideds' on Farm Bill While ready to move on the farm bill, House Republican leaders are giving Agriculture Committee Chairman Michael Conaway time to persuade “a lot of undecideds” to vote for tougher work requirements for SNAP recipients and looser subsidy rules for farmers. A sizable number of Republican lawmakers say Conaway wasn’t tough enough on either group and want to tighten the access to federal support. Majority Leader Kevin McCarthy listed the farm bill for consideration this week but placed it last of three bills for debate. The House Rules Committee, the gatekeeper for floor action, says it will spend two days — Tuesday ...
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ASC Denies TriStar Waiver Request The Appraisal Subcommittee (ASC) unanimously rejected, by voice vote, a temporary waiver request from TriStar Bank of Dickson, TN, during a special meeting April 23 in Washington. ASFMRA President David GaNun, ARA had provided comments to the ASC urging the subcommittee to reject the waiver request from TriStar Bank. The Committee determined that no appraiser shortage existed in the area, nor that appraisals were untimely prepared during the time period submitted by Tristar Bank in its waiver request. More News: ASFMRA Joins 64 Other Organizations Urging No Cuts to Crop Insurance House to Take Up Senate Bill ...
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Farmland Buyers Hold Line on Leverage Farmland buyers in the western Corn Belt continued to show restraint on debt financing in 2017. That restraint provides stability to the farmland market during this correction. The table below shows the debt restraint. It is compiled by Farm Credit Services of America (FCSAmerica), which is the dominant ag lender in Iowa, Nebraska, South Dakota and Wyoming. While the data speaks only to FCSAmerica, we suspect it is representative of other Midwestern farm credit associations. The data, provided by Jim Knuth, senior vice president with FCSAmerica, shows the steady restraint on leverage for farmland purchases during ...
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Texas Chapter Releases Rural Land Value Trends 2017 JUNCTION, TX- In keeping with tradition the Texas Chapter of the American Society of Farm Managers and Rural Appraisers released its 2017 edition of Rural Land Value Trends at the Annual Outlook for Texas Land Markets hosted by the Real Estate Center.  This year’s report was presented to over 400 attendees at the conference. Full Press Relea
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AMERICAN SOCIETY OF FARM MANAGERS AND RURAL APPRAISERS’ EDUCATION WEEK FEATURES NEW CONTINUING EDUCATION SEMINARS FOR APPRAISERS Glendale, CO – April 26, 2018 – The American Society of Farm Managers and Rural Appraisers® (ASFMRA®) will return to Des Moines, Iowa this year, with three new appraisal seminars. Education Week is ASFMRA’s premier event aimed at providing education for licensure, accreditation and continuing education. This year’s event is slated for June 24 – 29, 2018 at the Des Moines Marriott Downtown. Full Releas
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